CCTV Market By Pixel Resolution (Less than 1.0 MP,1.1 - 3.0 MP,3.1 - 5 MP, More than 5 MP), By Direction type (Omnidirectional, Unidirectional), By Use type (Indoor, Outdoor), By Type (Infrared, Box, Dome, PTZ, Bullet, Others), By System Type (Analog Based, IP Based), By Application (Infrastructure, Border Security, Commercial, Residential, Industrial, Institutional, Others), By Sales channel (Dealers, Retailers, Direct Sales, Online Sale), By Geography - Global Opportunity Analysis & Industry Forecast, 2022-2027
The CCTV Market size was valued at $15.2 billion in 2021, and the demand is estimated to grow at a CAGR of 14.2% during the forecast period 2022-2027. Increasing number of commercial buildings and small and medium enterprises are strengthening the deployment of CCTVs in these sectors, owing to security and surveillance applications. The use of omnidirectional camera has been increasing in robotics including through utilization of artificial intelligence and internet of things, due to their wide field of view. Due to development in cloud services and networking technology particularly network attached storage, digital video recorders, IP omnidirectional cameras are becoming affordable for some major segments in video surveillance market. Infrared CCTVs are vital for industries such as banking, government, military and others where thermal data management is critical. The World Bank’s 2021 study highlights that the unsafe food costs low-and middle-income economies about $110 billion in lost productivity and medical expanses every year. To reduce some proportion of this cost, preventative measures such as usage of infrared CCTV will play a major role. Dealers grant special exchange offers related to low transaction cost and fast trade execution that include simple and easy trading mechanism, skipping the role of brokers and thus, avoiding extra cost. The application of CCTVs in outdoor applications is continuously increasing in response to increased safety monitoring in public places. Due to harsh and extreme temperatures, thermal or infrared cameras which have great stability are gaining popularity
CCTV Market Report Coverage
The report: “CCTV Market – Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the CCTV Market Report.
- The adoption of surveillance cameras for security in BFSI buildings, electric grids, malls, metro stations and others has raised the requirement for CCTVs in such infrastructure.
- The construction segment in the CCTV market is anticipated to grow at a CAGR of 15.3% during the forecast period.
- In February 2018, Arlo Technologies, Inc. declared its partnership with Eagle Eye Networks with plans to launch a unique commercial video surveillance technology that support wired and wireless IP security devices.
CCTV Market, By System Type
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CCTV Market Segment Analysis - By Pixel Resolution
3.1 to 5.0 megapixels segment generated a revenue of $5.8 billion in 2021, and is projected to grow with a CAGR of 14.6% during the forecast period. This category supports H.264 Zip+ technology, which reduces the bandwidth and increases around 50% of storage space, making it suitable for indoor and outdoor applications such as in governmental infrastructure, offices, educational facilities and retail stores for Point of Sale (POS) monitoring. The fastest growing segment will be More than 5.0 MP, and projected to grow with a CAGR of 19% during the forecast period.
CCTV Market Segment Analysis - By Application
The rapidly growing population which is projected to be $8.6 billion by 2030 by the United Nations, will enable real-estate industry to observe a disruptive growth. The Commercial constructions such as office and retail buildings are growing in countries like the U.S. and India. Thus, it will increase the usage of CCTVs for security applications in commercial sector over the forecast period, the commercial application CCTV market was estimated to be $6,364.2 million in 2021.
CCTV Market Segment Analysis - By Geography
North America is the leading region in CCTV Market, where the U.S. is the major contributor, owing to increased demand for small installations and advanced workplace surveillance, which simultaneously drives demand for the CCTV market. According to the report by BuiltWorlds Inc., 50% of all constructions in the U.S. from 2019 to 2023 are expected to occur in just 20 cities. From those cities, New York, Los Angeles, Dallas, Houston and Washington, are expected to generate higher demand for CCTVs. This will drive the North America market by 12.9% CAGR through 2027.
CCTV Market Drivers
Growth in the Real Estate
The U.N. has projected that world population will grow rapidly to 8.6 billion by 2030, which will lead to disruptive growth in the real-estate industry. Hence, real-estate industry growth will boost the CCTV market to aid in security & surveillance applications. According to JLL, Although the impact of COVID is still being felt, many parts of the world are now moving towards living with the virus as opposed to operating with strict restrictions. This is flowing through to real estate markets with demand picking up in those sectors highly impacted by restrictions such as office, retail and hotels. Uncertainty however remains a key theme going forward as concerns remain around new variants, emerging geopolitical issues and elevated inflation. On the back of a broadening recovery, the global capital markets recovered in a profound manner during 2021. As such, investment activity surged by 54% in 2021, totaling a record US$1.3 trillion. This rise in investment in Real Estate market will drive the market growth.
Stringent Government Regulations
The CCTV market is positively influenced by the government regulations. Governments in the Middle East region are highly concerned regarding safety and security of public and private infrastructure. IP-based surveillance systems have already been deployed in Dubai, Abu Dhabi, and other Gulf nations. Surveillance systems have undergone drastic transformations, owing to real-time video analytics. The UK in particular has been a driver in the adoption of CCTV Cameras. According to the Freedom of Information Act 2000 requests, the total number of local government operated CCTV cameras was around 52,000 over the entirety of the UK. Highway surveillance has benefitted from evolution of CCTVs. Government regulations are also embracing technologies for enhancing safety and security, and the infrastructure. The implementation of GDPR has led to increased focus on CCTV utilization inline with privacy laws. For example, in Sweden, the use of CCTV in public spaces is regulated both nationally and via GDPR (the European privacy act). Despite these privacy laws, CCTV usage continues to be driven by Govenrment safety regulations.
CCTV Market Challenges
Data Privacy and Internet speed Issues with IP Based CCTV Cameras
Less Internet penetration and inadequate Internet speed is also an issue that can pose hurdles in the growth of the IP Based CCTV market in many under developed and developing countries. Good internet connection, reliability and adequate Internet speed is the primary factor considered while incorporating IP Based CCTVs. Transferring data over the internet, increase the chances of data exposure to remote attacks, thus, CCTV Cameras market is facing a major challenge of security breach that involve transferring of sensitive data.
Companies operating in the CCTV Market are focusing more on product launches which accounted for 72% of the total developments during 2019-2021. The CCTV top 10 Companies include
- LG Electronics
- Schneider Electric
- In November 2020, Secureye launched India’s most advanced 8MP CCTV camera range. A first in the segment, S-CCI3 Bullet Camera & S-CCI2 Dome Camera has 8-megapixel resolution for far more clearer images
- In December 2021, MOBOTIX Launched 18 New Products consisting of innovative hardware and software solutions. Including a new CCTV Solution.
- In July 2021, Wobot.ai, the AI-powered video analytics platform, announced the launch of new SaaS-based and simplified version of its product This video analytics platform is compatible for CCTV applications.